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TMA launches new 75% buy-to-let mortgage from Leeds

04 March 2011
Written by rosalind renshaw

Mortgage club The Mortgage Alliance (TMA) has launched an exclusive two-year buy-to-let discount product with Leeds Building Society.

The BTL deal is a 1.75% two-year discount converting to a rate of 4.24% and is available up to 70% LTV for remortgage and purchase customers.

The £1,300 completion fee can be added to the loan provided the LTV does not exceed the 70% LTV once added, and there is a booking fee of £199 along with a free standard valuation up to £335.

The maximum loan amount allowed for this product is £500,000.

This launch comes on the back of the recent announcement by Leeds Building Society that it plans to increase its mortgage lending by 25% in 2011 to £1.25bn.

It says it continues to adopt a prudent approach to lending and its average LTV on new mortgages in 2010 was 53%. All of the society’s residential lending is funded entirely by retail savings.

Directly authorised intermediaries can access these products through the TMA website.

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